Americas Petrogas Inc. (TSXV:BOE) announced that its subsidiary is progressing towards a resource assessment at its Peru-based potash project.
As quoted in the press release:
Exploration wells are expected to be from 10 inches to 16 inches in diameter. A suitable mobile drilling rig has been identified and is expected to begin drilling before the end of the year subject to receipt of applicable drilling permits, which were applied for in September. The Company expects to have a completed NI 43-101 technical report relatively soon after collection and analysis of the results of the production wells.
Project Manager Dr. Sebastiaan van der Klauw said:
“Based on available historical data, which were mostly confirmed by the data from the recent exploration campaign (2009 to early 2011), it is our impression that adequate potash bearing brine is present in the sand and salt rock reservoirs in the API license areas to support a potash production operation with a capacity of 250,000 tonnes for at least 20 years.”